Traders Union has analyzed financial markets for over 14 years, evaluating brokers based on 250+ transparent criteria, including security, regulation, and trading conditions. Our expert team of over 50 professionals regularly updates a Watch List of 500+ brokers to provide users with data-driven insights. While our research is based on objective data, we recommend that users perform independent due diligence and consult official regulatory sources before making any financial decisions.
Learn more about our methodology and editorial policies.
Propex24 Pros & Cons
- Reliable regulation and long-standing presence in financial markets since 2005.
- Over 40,000 assets.
- Advanced training on the website and free access to comprehensive educational courses.
- 10 base account currencies.
- Floating spreads starting from 0.3 pips.
- There are no fees for deposits and withdrawals.
- Demo accounts and mobile versions of the trading platform are available.
- The minimum deposit is AUD 3,000 or an equivalent in another currency, and cent accounts are not available.
- Maximum leverage is 1:30.
- Limited payment methods, as only bank transfer and card payments are available.
Propex24 offers consulting and dealing services, and also serves as an introducing broker for Saxo Capital Markets Ltd., an Australian subsidiary of Saxo Bank. This partnership grants Propex24 clients access to a wide array of trading options, including CFDs, options, futures, and forward contracts. Additionally, clients can trade stocks on over 30 global exchanges and engage in spot trading with currencies and metals. Propex24 operates under an ASIC (Australian Securities and Investments Commission) license, number AFSL 246488.
TU Expert Verdict
Propex24 demonstrates moderate stability and can suit certain traders. Its conditions are acceptable, and feedback is mixed but reasonable. In my own tests, it performed adequately, though it lacks the consistency of higher-rated companies.
Top-5 Brokers Traders Prefer
Propex24 User Reviews
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Commissions and Fees
Score:We evaluate brokers' fees and spreads by assessing the costs associated with Standard and ECN/Raw spread accounts, including commissions and spreads. Additionally, our evaluation considers extra fees such as deposit/withdrawal charges and inactivity fees. Learn the assessment criteria6 /10The trading and non-trading commissions of Propex24 have been analyzed and rated as having Medium fees, with a fees score of 6/10. Additionally, these commissions were compared with those of the top two competitors, OANDA and FOREX.com, to provide the most comprehensive information.
- Low Forex trading fees
- No inactivity fee
- No deposit fee
- No withdrawal fee
- No ECN/Raw Spread account
Trading Fees and Spread
Below, we evaluated and compared the trading commissions of Propex24 with those of two competitors. We focused on the spreads and other transaction fees directly associated with executing trades (e.g commission per lot on an ECN account). This comparison aimed to provide a clear understanding of the cost efficiency of each broker.
Standard Account Spread
For Standard accounts, Propex24’s commissions are part of the floating spread, which varies with market conditions. Typical values are provided, but during high volatility, the spread may exceed these.
Propex24 Standard spreads Propex24 OANDA FOREX.com EUR/USD min, pips 0.6 0.1 0.7 EUR/USD max, pips 1.1 0.5 1.2 GPB/USD min, pips 1.2 0.1 0.9 GPB/USD max, pips 1.9 0.5 1.4 Does Propex24 support RAW/ECN accounts?
As we discovered, Propex24 does not offer RAW/ECN accounts, which might be a drawback for transparency and liquidity. However, this doesn't make the broker uncompetitive. Consider factors like spread levels, execution speed, regulation, support quality, and trading tools when choosing a reliable broker.
Non-Trading Fees
We conducted a detailed analysis of the non-trading fees associated with Propex24. This review offers a comprehensive overview of the additional costs that may impact traders beyond regular trading activities.
Propex24 Non-Trading Fees Propex24 OANDA FOREX.com Deposit fee, % The indicated amount does not include possible fees from payment systems and banks. 0 0 0 Withdrawal fee, % The indicated amount does not include possible fees from payment systems and banks. 0 0 0 Withdrawal fee, USD The indicated amount does not include possible fees from payment systems and banks. 0 0-15 0 Inactivity fee ($, per month) 0 0 15 -
Is Propex24 Safe?
Score:We evaluate brokers' safety based on several key criteria. The highest value is placed on regulation, especially Tier 1 regulation, which ensures adherence to stringent standards set by top financial authorities like the FCA in the UK, CFTC in the US, CySEc and BaFin (EU) or ASIC (Australia). High scores are also given for participation in investor protection funds, which safeguard clients' funds in case of broker insolvency. Learn the assessment criteria8 /10Propex24 has a safety score of 8/10, which corresponds to a High security level. The safest brokers are those with Tier-1 regulation, a long history (over 10 years in the market), and participation in investor compensation schemes.
- Tier-1 regulated
- No negative balance protection
Propex24 Regulators and Investor Protection Abbreviation Full Name Country of regulation Investor Protection Fund Regulation Level ASIC
Full Name Australian Securities and Investments Commission Country of regulation Australia Investor Protection Fund No specific fund but has stringent consumer protection Regulation Level Tier-1 Propex24 Security Factors Foundation date - Negative balance protection NoVerification (KYC) Yes -
Account Types
Score:We evaluate a broker’s account offering by analyzing the range and suitability of available account types and how effectively they cater to different trader profiles and strategies. Our assessment covers the diversity of account options — including Standard, ECN/Raw, Cent, Swap-Free (Islamic), and VIP accounts — as well as the flexibility of trading conditions provided. Learn the assessment criteria.0 /10Propex24 offers the following account options: Demo, Standard.
However, it does not provide a Cent account, which can be a disadvantage for beginners looking to practice with minimal risk.
- Standard account with balanced trading conditions
- Low minimum deposit
- Demo account
- No ECN/Raw spread account
- No Cent account
Propex24 account types vs top competitors Propex24 Trading.com Plus500 Standard YesYesYesECN/Raw spread NoNoNoDemo YesYesYesCent NoNoNoMicro NoNoNoSwap Free NoNoNoVIP NoNoNoManaged NoNoNoPropex24 accounts trading conditions
A live account with Propex24 is necessary to initiate trading on its platforms. Prospective clients have the option to open either a Live account for real market trading or a Demo account for simulated trading.
Account types:
Account Type Description Live Accounts Those are divided into Individual, Joint, Sole Trader, Company, Trust, or Superannuation Fund accounts. The Individual account is for retail traders. It is opened with Saxo Capital Markets since Propex24 is an introducing broker and does not manage accounts. Islamic accounts are currently unavailable. The demo account is available for up to 20 days.
Propex24 offers advanced platforms for trading basic and derivative financial instruments with 9 chart types, asset screeners, price alert support, and Autochartist data.
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Deposit and Withdrawal
Score:This section assesses the efficiency, speed, and affordability of brokers’ transaction processes, focusing on available methods, currencies, and fees. For further details, please refer to our data-focused methodology6.5 /10Propex24 received a Medium score for the efficiency and convenience of its deposit and withdrawal processes.
Propex24 provides a reasonable range of deposit and withdrawal options with moderate fees, in line with industry standards.
- No deposit fee
- Low minimum withdrawal requirement
- Bank wire transfers available
- Minimum deposit below industry average
- Limited deposit and withdrawal flexibility, leading to higher costs
- Wise not supported
- BTC not available as a base account currency
What are Propex24 deposit and withdrawal options?
Propex24 provides a basic range of deposit and withdrawal options, covering essential methods in line with industry standards. This set of options is sufficient for most traders, with available methods Bank Card, Bank Wire.
Propex24 Deposit and Withdrawal Methods vs Competitors Propex24 Trading.com Plus500 Bank Wire YesYesYesBank card YesYesYesPayPal NoNoYesWise NoNoNoBTC NoNoNoWhat are Propex24 base account currencies?
A wide range of base account currencies minimizes the need for currency conversion, potentially reducing transaction costs. Propex24 supports the following base account currencies: USD, EUR, GBP, JPY, AUD, CAD, CHF, NZD, HKD, SGD.
What are Propex24's minimum deposit and withdrawal amounts?
The minimum deposit on Propex24 is $2,000, while the minimum withdrawal amount is $1. These minimums may vary depending on the chosen account type and payment method. For specific details, please contact Propex24’s support team.
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Markets and Tradable Assets
Score:The evaluation in this section is based on the TU methodology and reflects the total number and variety of tradable assets offered by the broker, including Forex currency pairs. It also considers the availability of passive income tools such as PAMM accounts, copy trading, and similar services. All information is obtained from publicly available sources and may change. Learn the assessment criteria8.3 /10Propex24 offers a wider selection of trading assets than the market average, with over 33541 tradable assets available, including 185 currency pairs.
- Passive income with bonds
- ETFs investing
- 185 supported currency pairs
- Crypto trading not available
- Indices not available
Supported markets vs top competitors
We have compared the range of assets and markets supported by Propex24 with its competitors, making it easier for you to find the perfect fit.
Propex24 Trading.com Plus500 Currency pairs 185 69 60 Total tradable assets The total tradable assets listed include all available instruments, including CFDs. Due to regional restrictions, certain CFDs may not be offered in some countries. For example, cryptocurrency CFDs are banned in the UK, and the U.S. has restrictions on CFDs. 33541 69 2800 Stocks YesNoYesCommodity futures YesNoYesCrypto Cryptocurrency CFDs are restricted or prohibited in certain regions due to regulatory limitations. These include the United Kingdom, China, Egypt, the United States and Canada. NoNoYesStock indices NoNoYesOptions YesNoYesInvestment options
We also explored the trading assets and products Propex24 offers for beginner traders and investors who prefer not to engage in active trading.
Propex24 Trading.com Plus500 Bonds YesNoNoETFs YesNoYesCopy trading NoNoNoPAMM investing NoNoNoManaged accounts NoNoNo -
Trading Account Opening
Score:We evaluated Trading Account Opening at Propex24 by testing the registration process under real conditions, including opening an account and funding it with the minimum required deposit (but no less than $100). Our assessment considered whether onboarding was fully online, the average registration time, the speed of KYC verification, and how quickly traders could activate their accounts. Learn the assessment criteria.5 /10We successfully registered an account with Propex24 in 20 minutes. The KYC verification was completed within 2 business days. The minimum deposit amount at Propex24 is $2,000. The onboarding procedure works as expected, although there is room for improvement in speed and simplicity.
- Low minimum deposit requirement
- Fully online account opening process
- Account approval may require extra time depending on the documentation.
- Registration process may take longer than expected
Propex24 account opening Propex24 Trading.com Plus500 Online Registration YesYesYesMinimum deposit $2,000 $50 $100 Mandatory KYC YesYesYesRegistration time (min) 20 20 KYC time (days) 2 2 3 Is Propex24 available in my country?
If you are a citizen of United States, the broker accepts clients from your country.
Please note that availability may vary due to regulatory requirements, so we recommend confirming directly with the broker for the most accurate and up-to-date information.
Account opening details
To start trading with Propex24, open a live account. Here is a brief overview of the account creation process:
On any page of the Propex24 website, click "Start Trading," and then select “Live Trading.”
A form will open to initiate the account opening process with Saxo Capital Markets, the entity that will handle your trading orders. Select the desired account type and provide all required information, including personal details, income amount and source, and level of trading experience. You'll also be asked to answer questions regarding your experience trading the selected asset classes and upload the necessary documents.
Propex24’s user account features:
- Trading in the web trading platform..
- Market data applicable to trading..
Additional features of Propex24’s user account allow traders to:
- Access complete information about trading accounts.
- Deposit funds and submit withdrawal requests.
- Set commands for automatic logout.
- Choose language, region, and trading server time.
- Configure price alerts.
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Customer Support
Score:We evaluated Customer Support at Propex24 by opening a real account funded with the minimum required deposit (no less than $100) and contacting support to measure response time under real conditions. Our assessment considered contact channels, response speed, multilingual support, and availability hours. Learn the assessment criteria5.2 /10Customer support at Propex24 is available, but response speed and service quality may vary. Some requests are handled efficiently, while others may require follow-ups.
During testing, response times were moderate, and communication depended on the complexity of the request. Propex24 provides basic support functionality but does not stand out in overall service performance.
InformationClient support operates 24/5. The default language of communication is English.
- It is possible to communicate with the company's representative online and by phone
- Support for traders is available at any time of day on weekdays
- The chat response speed is slow
- Questions about trade execution speed and quality need to be directed to Saxo Bank's support team.
There are several ways to contact Propex24:
- Send a question in the website chat.
- Use the Facebook Messenger (switch through the online chat).
- Send an email.
- Call the phone numbers listed on the company website.
- Fill out the contact form available in the contacts section.
The chat remains active for 24 hours even if the trader is inactive, allowing the discussion of the question or issue to be resumed later if desired.
Contacts Registration address Propex 24 Pty Ltd, Level 24, 66 Goulburn St, Sydney, Australia 2000 Regulation ASIC Official site https://propex24.com/ Contacts enquiries@propex24.com (02) 8231 3650
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FAQs
How do reviews assess Propex24’s regulation and overall safety measures?
Propex24 has a safety score of 8/10, which corresponds to a high security level in this review. It is regulated by the Australian Securities and Investments Commission (ASIC), a Tier-1 regulator, and requires KYC verification, but the review notes that there is no negative balance protection and the foundation date is not specified.
What fees and spreads are highlighted in reviews of Propex24’s commissions and pricing?
The review rates Propex24’s overall fee level as medium, with low forex trading fees and no deposit, withdrawal, or inactivity fees. For Standard accounts, EUR/USD spreads typically range from 0.6 to 1.1 pips and GBP/USD from 1.2 to 1.9 pips, and the broker does not offer RAW/ECN accounts.
What do user reviews and feedback say about trading with Propex24?
Propex24 has a user satisfaction score of 7.2/10 based on 5 reviews, with 20% 5-star, 20% 4-star, and 60% 3-star ratings, and no 1- or 2-star reviews. According to user reviews, the overall sentiment is mixed rather than strongly positive or negative.
Which markets and instruments are available with Propex24 according to reviews?
The review states that Propex24 offers over 33,541 tradable assets, including 185 currency pairs, stocks, commodity futures, options, bonds, and ETFs. It also notes that crypto trading, stock indices, copy trading, PAMM investing, and managed accounts are not available.
What do reviews say about the Propex24 account opening process and requirements?
The review indicates that opening an account with Propex24 is fully online, took 20 minutes for registration, and about 2 business days for KYC verification, with a minimum deposit of $2,000. It mentions that while the process works as expected, registration and approval may take longer than some users anticipate, depending on the documentation provided.
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